Spectral AI (MDAI) Cost of Revenue (2022 - 2026)
Spectral AI (MDAI) posted Cost of Revenue of $2.41 million for Q2 2026, down 13.1% from $2.78 million a year earlier but up 22.8% from the prior quarter.
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Analysis
Spectral AI (MDAI) Cost of Revenue (2022 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Cost of Revenue at Spectral AI was $8.79 million, down 41.7% year-over-year; for FY2025, it was $10.73 million, down 34.2% from FY2024.
- Annual Cost of Revenue shows a three-year compound annual growth rate of -9.6% (FY2022 to FY2025).
- In prior years, Spectral AI's Cost of Revenue was $16.31 million in FY2024 (+60.2%), $10.18 million in FY2023 (-30.0%) and $14.53 million in FY2022.
- Quarterly Cost of Revenue has run from a low of $1.96 million in Q1 2026 to a high of $4.51 million in Q3 2024 over five years.
- On a year-over-year basis, Cost of Revenue has declined in each of the last five quarters, with an average decline of 0.9% over the last eight quarters.
- The strongest year-over-year quarter for Cost of Revenue in the past five years was Q3 2024, with growth of 129.0%; the weakest was Q3 2025, with a decline of 51.8%.
- According to Business Quant data, Cost of Revenue for the three prior quarters was $1.96 million (Q1 2026), $2.24 million (Q4 2025) and $2.17 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 242.18 Bn | 221.33 Bn | 4.88 Bn | 7.11 Bn |
| 2 | Abbott Laboratories | 168.71 Bn | 139.79 Bn | 7.27 Bn | 5.33 Bn |
| 3 | Danaher | 150.46 Bn | 134.27 Bn | 3.61 Bn | 2.65 Bn |
| 4 | Intuitive Surgical | 138.71 Bn | 118.26 Bn | 1.96 Bn | 931.90 Mn |
| 5 | Medtronic | 110.54 Bn | 76.41 Bn | 6.34 Bn | 3.42 Bn |
| 6 | Stryker | 105.66 Bn | 91.78 Bn | 4.50 Bn | 2.09 Bn |
| 7 | Boston Scientific | 61.74 Bn | 56.75 Bn | 3.85 Bn | 1.59 Bn |
| 8 | Edwards Lifesciences | 49.09 Bn | 33.21 Bn | 1.35 Bn | 392.40 Mn |
| 9 | Becton Dickinson | 48.16 Bn | 45.31 Bn | 2.32 Bn | 2.67 Bn |
| 10 | Spectral AI | 53.43 Mn | 1.83 Mn | 1.11 Mn | 2.41 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.41 Mn |
| Mar 31, 2026 | 1.96 Mn |
| Dec 31, 2025 | 2.24 Mn |
| Sep 30, 2025 | 2.17 Mn |
| Jun 30, 2025 | 2.78 Mn |
| Mar 31, 2025 | 3.54 Mn |
| Dec 31, 2024 | 4.26 Mn |
| Sep 30, 2024 | 4.51 Mn |
| Jun 30, 2024 | 4.16 Mn |
| Mar 31, 2024 | 3.38 Mn |
| Dec 31, 2023 | 2.85 Mn |
| Sep 30, 2023 | 1.97 Mn |
| Jun 30, 2023 | 2.46 Mn |
| Mar 31, 2023 | 2.90 Mn |
| Dec 31, 2022 | 3.59 Mn |
| Sep 30, 2022 | 3.81 Mn |
API Access
Spectral AI Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=MDAI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "MDAI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=MDAI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();